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Splunk Inc. (SPLK) saw its loss narrow to $99.93 million, or $0.73 a share for the quarter ended Apr. 30, 2017. In the previous year period, the company reported a loss of $100.90 million, or $0.77 a share. On the other hand, adjusted net loss for the quarter widened to $1.34 million, or $0.01 a share from a loss of $1.12 million or $0.01 a share, a year ago.
Revenue during the quarter surged 30.38 percent to $242.45 million from $185.95 million in the previous year period. Gross margin for the quarter contracted 275 basis points over the previous year period to 76.01 percent. Operating margin for the quarter stood at negative 40.20 percent as compared to a negative 52.78 percent for the previous year period.
Operating loss for the quarter was $97.46 million, compared with an operating loss of $98.14 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $2.81 million compared to operating loss of $1.38 million in prior year period.
"We are living in a data-driven world and Splunk enables organizations to turn massive data into answers, action and success," said Doug Merritt, president and chief executive officer Splunk. "We are pleased that customers continue to adopt the Splunk platform on-premises, in the cloud and in a hybrid environment. This continued adoption, flexible deployment and our strong app ecosystem is helping us deliver on our goal of increasing their success."
For fiscal year 2018, Splunk Inc. forecasts revenue to be $1,195 million. The company expects adjusted operating income to grow at 8 percent.
For the second-quarter 2018, Splunk Inc. expects revenue to be in the range of $267 million to $269 million. The company expects adjusted operating income to grow at 4 percent.
Operating cash flow improves
Splunk Inc. has generated cash of $41.36 million from operating activities during the quarter, up 15.88 percent or $5.67 million, when compared with the last year period. Cash flow from investing activities was $34.99 million for the quarter as against cash outgo of $13.38 million in the last year period.
The company has spent $31.29 million cash to carry out financing activities during the quarter as against cash outgo of $19.38 million in the last year period.
Cash and cash equivalents stood at $466.43 million as on Apr. 30, 2017, up 8.92 percent or $38.18 million from $428.24 million on Apr. 30, 2016.
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